Michael Forsum - 24 Jun 2025 Form 4 Insider Report for Landsea Homes Corp (LSEA)

Role
Chief Operating Officer
Signature
/s/ Kelly Rentzel, Attorney-in-fact for Michael Forsum
Issuer symbol
LSEA
Transactions as of
24 Jun 2025
Net transactions value
-$4,595,880
Form type
4
Filing time
25 Jun 2025, 17:37:48 UTC
Previous filing
02 Jun 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Forsum Michael Chief Operating Officer C/O LANDSEA HOMES CORPORATION, 1717 MCKINNEY AVENUE, SUITE 1000, DALLAS /s/ Kelly Rentzel, Attorney-in-fact for Michael Forsum 25 Jun 2025 0001839958

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LSEA Common Stock, par value $0.0001 Disposition pursuant to a tender of shares in a change of control transaction $4,595,880 -406,715 -67% $11.30 200,578 24 Jun 2025 Direct F1, F2
transaction LSEA Common Stock, par value $0.0001 Disposed to Issuer -200,578 -100% 0 25 Jun 2025 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Michael Forsum is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Represents securities tendered to Lido Merger Sub, Inc. ("Merger Sub"), a wholly owned, direct subsidiary of Lido Holdco, Inc. ("Parent"), at a price of $11.30 per share (the "Offer Price").
F2 Includes 200,578 unvested restricted stock units ("RSUs").
F3 Pursuant to that certain Agreement and Plan of Merger, dated as of May 12, 2025 (the "Merger Agreement"), by and among the Issuer, Parent and Merger Sub, on June 25, 2025, each share of the Issuer's Common Stock not previously tendered by the Reporting Person was cancelled and converted into the right to receive an amount in cash equal to the Offer Price (the "Merger Consideration"). In addition, each RSU award was canceled and terminated and converted into the right to receive an amount in cash (without interest) equal to the product obtained by multiplying (x) the aggregate number of shares of common stock underlying such award immediately prior to the Effective Time (as defined in the Merger Agreement), by (y) the Merger Consideration.